I'm travelling to Singapore, then Malaysia and then Dubai. What's the best place to get the local currency for each of these places in terms of exchange rate/ commission etc. i.e. am I better off getting money here, or should I get it there? Is an ATM better than a bureau/ bank? Are there money booths in Singapore where I could get Malaysian Ringits or would I be better off getting it in Malaysia? Thanks
2006-08-31 00:26:50 · 18 answers · asked by Mike 1 in Travel ➔ Asia Pacific ➔ Singapore
If u are using USD/Pounds/Euros , u can go to the moneychanger at the streets along Orchard Road. There are lots of it. Lucky Plaza in Orchard road gives a good rate. U can change some for taxi fare at the airport moneychanger but they are slightly expensive than normal moneychanger outside . ATM will have charges. Banks is slightly expensive even at the airport. U can change Singapore dollar to Malaysian ringgit easily in Singapore. And u can do that in malaysia too. The rate is abt the same. BUT if u changing in malaysia, make sure u use S$50 (Singapore) note coz if u give S$10 notes, they will give u bad rates in malaysia. It can even be abt RM10 different. And be careful when u change ur money in malaysia coz they are eyes watching from the back so dont bring so much cash!
2006-08-31 03:54:38 · answer #1 · answered by gawddez 2 · 0⤊ 0⤋
Hi, when you travel to Singapore, you get better rate changing your currency atthe money changers. They can be easily found in town and in most shopping malls and centres.
For Malaysian currency, if you are in Johore Bahru, you get the best rate than in other parts of Malaysia. Otherwise in Kuala Lumpur, the rate is still reasonable.
As for Dubai, I am not too sure, but I do see many travellers changing for the currency in Singapore money changer. My guess is that if you use your USD in Dubai, you may get better rate.
Anyway, if you have an ATM card that is international, either with Cirrus, Plus or Maestro network, you can get your money easily in local currency. Depends on whether your bank levy any charge for each transaction. Sometime it may be expensive, as I understand from some travellers. So you may want to control your use.
2006-08-31 05:34:02 · answer #2 · answered by peanutz 7 · 0⤊ 0⤋
You can exchange money in all three countries, but my suggestion is to change each currency in each respective country itself because their own rates are more favourable. You can change Singapore and Malaysian currency in Singapore but you won't get favourable Malaysian rates in Singapore. You don't need to carry too much cash with you. If your ATM card has a maestro symbol on the card, you could withdraw Singapore and Malaysian currencies straight from the countries' ATM machine.
2006-08-31 00:32:39 · answer #3 · answered by citrusy 6 · 0⤊ 0⤋
In Singapore, you can change Malaysian Ringgits at money-changers, will get better rates.
Banks rate not too good, airport is the worst
2006-08-31 04:14:05 · answer #4 · answered by katali 3 · 0⤊ 0⤋
i am not sure whether its better to get it where you are or in singapore.
but i can advise that you wont be able to get a good rate from banks. the money changers in singapore are generally safe and plentiful.
as for ringgits, i suggest you exchange when you arrive in malaysia. the money changers there usually offer better rates than in singapore.
2006-08-31 00:38:30 · answer #5 · answered by ash 7 5 · 0⤊ 1⤋
As far as I know, the exchnage rate will always be the same in each country. For instance, if I wanted to change my US dollars into Euros in Europe, I would get the same amount of money out even if I changed the money in Europe or in America. What changes the exchange rate is its changing from day to day.
As for commission, I think if you change your money at the airport they do it for free. You just hand them your money, and they hand you the money back just in a different currency. You'll either get more for your money or less for your money.
2006-08-31 00:30:41 · answer #6 · answered by rachael b 2 · 0⤊ 1⤋
Drop by Golden Mile located at Beach ROad. The rats are relatively competitive
2006-08-31 08:17:18 · answer #7 · answered by lanks20032003 3 · 0⤊ 0⤋
ATMs will charge you alot more than a bank or travel agent will. You have to order in advance in alot of banks too so I'd say your best bet is a travel agent.
2006-08-31 00:29:20 · answer #8 · answered by claire 5 · 0⤊ 0⤋
I would think a local bank in the area, plus I would only trust a bank
2006-08-31 00:31:04 · answer #9 · answered by Claire 5 · 0⤊ 0⤋
Use your credit card if you can. Exchange rates can change so quickly in some countries, and your CC will give you the most up to date rates.
2006-08-31 00:33:17 · answer #10 · answered by jojo 3 · 0⤊ 0⤋